QLD Inheritence and child support

[Alex24]

I have read similar previous answers, but they were years ago. I am re asking in case there have been changes to the system.

My father is not far away from the end as he is sick. When I do inherit from him, will it affect my child support?
When i google it I see different answers.

Will they try to take a lump sum or change my payments??

Does anyone know??

Thank you

 

[Tim W]

Depends. Are you up to date on all your payments?

 

[Alex24]

Yes i am always up to date with child support payments. Money is taken for child support before I'm even paid.

 

[Tim W]

Yes i am always up to date with child support payments. Money is taken for child support before I'm even paid.

Well then, the short answer is "yes".
It's the "how" and the "how much" that will be the variables.

I suggest that you take the front foot.
Once you know The Number At The End of It All,
then apply for a re-assessment yourself.

Child Support often confuse a lump sum with a pay rise, and re-calculate accordingly.
(that's wrong, but it happens!)

Thing is, while the lump sum does represent a fundamental change in your capacity to pay,
it's one off and exceptional.

The advance player move might be to have your lawyer do a new BFA (you do have a BFA...?),
and also to make some lump sum third party payments.

 

[Atticus]

My father is not far away from the end as he is sick. When I do inherit from him, will it affect my child support?

Generally an inheritance is not taxed & will not affect child support .. That said, it can depend on the size & nature of the inheritance. An asset such as real estate that you decide to rent out will become an income producing asset, & that may well affect your ATI & subsequent CS payments.

A one off lump sum (unless quite substantial) is unlikely to attract attention ....
I don't recommend you contact CSA or spend money on lawyers.

If it does get flagged by the ATO, you'll get a letter from CSA if they have any questions ... Again, unlikely if it's a one off lump sum.